An overwhelming problem

Introduction

There is no mistaking the seriousness of the situation in Japan. The crises it is suffering from – economic, banking, equity markets and corporate credit quality, among others – are threatening to add to the general global malaise that has cast a cloud over the US and Europe. But the fascinating thing is that most of Japan’s problems are due to poor risk management practices by banks, companies and even the government. Not surprisingly, most of the solutions come down to im